2007 - Pinguely Haulotte

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2007 annual report # p73-74 Excerpt of the management report to the annual general meeting of April 22nd, 2008 Environmental impact of subsidiaries: Overall, consolidated subsidiaries do not engage in any industrial activities with a potentially harmful impact on the environment. As primarily trading companies, their activity is limited to the temporary storage of machines and spare parts. The rare cases involving the handling of fuels, hydraulic oils and storage batteries during loading and unloading operations is always carried out under safe conditions. The recycling of these items is systematically entrusted to authorized organizations. Policies of subsidiaries concerning the impact of their activities on regional development and local population Almost all employees of consolidated foreign subsidiaries have been recruited locally. The terms of employment are generally better than those under local collective bargaining agreements. The company seeks to provide opportunities to enable deserving employees to benefit from its growth. INFORMATION ON COMMON STOCK For information, the 2001 stock option plan expired on 25 April 2006. In fiscal 2007 the share capital has been increased through the successive exercise of stock options under the 2002 and 2003 plans (see details in paragraph 9), from €4 456 704,20 (divided into 34 282 340 shares of €0,13 per share) to €4 476 420 at 31 December 2007 divided into 34 434 000 shares of €0,13 per share. Accordingly in 2007, 151 660 new shares were created from the exercise of stock options, as follows: - 78 060 shares created between 1 January 2007 and 31 December 2007, from the exercise of options under the 2002 plan; - 73 600 shares created between 8 July 2007 (beginning of the exercise period for the 2003 stock option plan stocks) and 31 December 2007 from the exercise of stock options under this plan. The modification of the share capital of 7 of the bylaws was recorded by the Board of Directors' meeting 3 March 2008. In accordance with the provisions of article L. 233-13 of the French Commercial Code and based on the information and notifications received pursuant to articles L. 233-7 and L. 233-12 of the French Commercial Code, the identity of shareholders directly or indirectly owning over one twentieth (5%), tenth (10%), three twentieths (15%), one fifth (20%), one quarter (25%), a third (33%), one half (50%), two thirds (66%), nine tenths (90%) or nineteen twentieths (95%) of the share capital or voting rights is disclosed below: On 7 March 2007, Solem acquired 5 000 shares in the company at a unit price of €20,90 per share, increasing its shareholding to 17 222 002 shares of Haulotte Group. In addition, pursuant to the merger of Solem with Garance on 21 December 2007, 236 455 shares of Haulotte Group were transferred to Solem through the transfer of all assets and liabilities of Garance. At the same time, pursuant to the increase in the share capital from the exercise of stock options by employees throughout the year and the number of treasury shares held, Solem's stake increased from 50,22% of the share capital and more than 50% of the voting rights on 31 December 2006 to 50,78% of the share capital and more than 50% the voting rights on 31 December 2007. Many employees of the Group hold shares of the company. However, because not all are registered shares, it is not possible to determine the exact percentage of capital held by employees. However, this percentage remains below the threshold indicated above. OWN SHARES PURCHASED AND/OR SOLD BY THE COMPANY Shares purchased or sold by the company during the fiscal year In fiscal 2007, the company: - purchased 969 403 shares at an average price of €24,65; - sold 240 557 shares at an average price of €25,61. Value of shares at purchase price: €27 407 000. Own shares held at 31 December 2007: - shares held at 31 December 2007: 828 292, or 2,4% of the share capital. - Execution costs in 2007: €89 084. - Nominal value per share: €0,13. - Allocation of treasury stock held on 31 December 2007: • 130 872 own shares held have been allocated in connection with a liquidity agreement in drafted in accordance with the French Association of Investment Firms’(AFEI) code of conduct of 14 March 2005 and approved by the AMF (Autorité des Marchés Financiers) on 22 March 2005 for the purpose of assuring an orderly market in the company's share. • 697 420 own shares were allocated to be retained for the purpose of subsequent payment or exchange in connection with financial transactions or acquisitions, in compliance with applicable regulations .
Excerpt of the management report to the annual general meeting of April 22nd, 2008 SHARE PRICE TRENDS AND TRADING ACTIVITY The share price on 2 January 2007 was €20,26 and ended the year at €20,48 on 31 December. Average daily trading on the basis of 255 trading sessions was 170 588 shares. While for the 2007 full year, the share price remained stable (€20,20 at 31/12/06 January versus €20,48 at 31 December 2007 representing a 1,4% increase) trends over the period were mixed. Boosted by strong financial performances the share rose to close to 30% in the first half, followed by a reversal in the second half precipitated by the subprime crisis and a loss of investor confidence in cyclical stocks. DIRECTORS AND OFFICERS Shareholdings of directors and officers: At 31 December 2007, the shareholdings of corporate officers were as follows: Pierre Saubot, Chairman of the Board of Directors and Chief Executive Officer: 13 189 shares or 0,04% (0,038%) of the capital, Alexandre Saubot, Deputy Chief Executive Officer: 990 shares or 0,003% (0,0028%) of the capital. List of corporate appointments: OFFICERS: Pierre SAUBOT APPOINTMENTS HELD IN THE COMPANY: Chairman of the Board of Directors and Chief Executive Officer, Director APPOINTMENTS HELD IN OTHER COMPANIES: - Chairman of the Board Of Directors, Chief Executive Officer and Director of Solem SA until 21/12/2007 and Chairman of the Board Of Directors and Director of Solem SAS as of 21/12/2007, - Representative of Haulotte Group SA, Chairman of ABM Industrie SAS, - Co-Manager of SCI La Coquille, - Manager of Garance SARL jusqu’au 21 December 2007, - Manager of Société Commerciale du Cinquau, - Manager of SCI Lancelot, - Director of Intermat, - Director of Valeurs du Sud, - Chairman of the “Fédération départementale du 64 des vignerons indépendants”. OFFICERS: Alexandre SAUBOT APPOINTMENTS HELD IN THE COMPANY: Chief Executive Officer, Director APPOINTMENTS HELD IN OTHER COMPANIES: - Director of Solem SA until 21/12/2007 and Chief Executive Officer and Director of Solem SAS as of 21/12/2007, - Representative of Haulotte Group SA, Chairman of LEV SAS, - Representative of LEV SAS, Chairman of Royans Levage SAS, - Representative of Haulotte Group SA, Chairman of ABM Industrie SAS, - Representative of Haulotte Group SA, Chairman of Télescopelle SAS, - Manager of Haulotte France SARL, - Manager of Haulotte Services France, - Director of Haulotte Netherlands BV, - Director of Haulotte Iberica, - Director of Haulotte Portugal, - Director of Haulotte Scandinavia, - Director of Haulotte Italia, - Manager of Haulotte GmbH, - Director of Haulotte Polska, - Director of Haulotte UK, - Director of UK Platforms, - Director of UK Training, - Director of Haulotte Australia, - Chairman of Haulotte US, - Director of Haulotte Singapore, - Representative of Haulotte Group SA, Sole director of Haulotte Cantabria, - Director of Haulotte Arges, - Chairman of Haulotte Trading (Shanghai) co. Ltd, - Director of Haulotte Mexico, - Chairman of Locav Srl, Nove Srl - Director of Haulotte Middle East OFFICERS: Elisa SAUBOT APPOINTMENTS HELD IN THE COMPANY: Director APPOINTMENTS HELD IN OTHER COMPANIES: - Director of Solem SA transformed into a simplified joint stock company as of 21/12/2007. OFFICERS: Hadrien SAUBOT APPOINTMENTS HELD IN THE COMPANY: Director APPOINTMENTS HELD IN OTHER COMPANIES: - Director of Solem SA transformed into a simplified joint stock company as of 21/12/2007. OFFICERS: José MONFRONT APPOINTMENTS HELD IN THE COMPANY: Director APPOINTMENTS HELD IN OTHER COMPANIES: - Director of Haulotte Trading Shanghai Co. Ltd. ENGLISH
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2007 - Pinguely Haulotte

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